The present invention relates to an antifungal agent which was derived from a fungal isolate which was taken from a sample of grass. Presently used antifungal compounds exhibit high levels of toxicity when used systemically at therapeutically effective doses. Others, such as the econazoles, are less toxic but less efficacious. Lastly, the resistance of opportunistic fungal organisms to currently used antifungal agents has been changing, with the incidence of resistance increasing. More resistant organisms are being isolated. Consequently, there is a need for antifungal compounds which have high levels of potency and reduced levels of toxicity when used at therapeutically effective levels.